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Aviata: Indonesia’s new state-owned travel holding firm
The holding company, officially established on July 1, is in the process of acquiring seven companies that include well-known names such as air carrier Garuda Indonesia and department store PT Sarinah.
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Former Bank Mandiri president director Kartiko Wirjoatmodjo (yellow batik) attends a meeting about the tax amnesty with the House of Representatives Commission XI in Jakarta on July 20, 2020 (20/7). (Antara Foto/Puspa Perwitasari)
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T Aviasi Pariwisata Indonesia (Aviata) is the name given to Indonesia’s newly established state-owned holding company for aviation and tourism-related enterprises.
The holding company, officially established on July 1, is in the process of acquiring seven companies that include well-known names such as air carrier Garuda Indonesia and department store PT Sarinah, Deputy State-Owned Enterprises (SOE) Minister Kartiko Wirjoatmodjo said on Thursday.
He added that the government would inject Rp 9.31 trillion (US$639.3 million) in state capital injection (PMN) in 2022 to jump-start Aviata.
“Indeed, quite a large amount of capital is needed,” he told lawmakers during a hearing with the House of Representatives on Thursday.
The holding was established through Government Regulation No. 72/2021, signed on July 1, which also renamed an old and small state-owned carrier, Survai Udara (Penas), to PT Aviasi Pariwisata Indonesia. Penas was established in 1961 as an aerial photography company.
Aviata adds to a growing list of state-owned holding companies in the pipeline as the government aims to improve SOEs’ independence and profitability. The SOE Ministry is also working on holding companies for staple food, health and geothermal energy, among other industries.
Read also: President mulls creation of tourism holding
